On September 3, Tuesday, Union Agriculture Minister Shivraj Singh Chouhan launched a Rs 750-crore fund titled AgriSure. According to the Press Trust of India, this fund will provide financial support to agritech startups. The AgriSure will support startups and agri-entrepreneurs by providing both equity and debt capital. The Union Agriculture Minister also asked startups to utilise this fund and assured them that there would be no shortage of funds for Agritech startups.
The Union Agriculture Minister also underlined the need for increasing public as well as private investments in the farm sector. Apart from this fund, the Union Cabinet on Monday, September 2, approved 7 schemes for the agriculture sector with an outlay of nearly Rs 14,000 crore. The Union Agriculture Minister addressed a programme in New Delhi to mark the launch of an integrated farming investment portal called Krishi Nivesh and AgriSure fund.
According to the Minister, “There is a need for investment in agriculture, not only from the government side but also private investments,” he said. Chouhan added that the investment is required to boost production and value addition in the sector. As per Chouhan, the agriculture sector needs new experiments. He emphasised that small farmers should form groups to do farming on a larger scale. The minister also spoke about the excessive use of chemical pesticides and fertilisers and emphasised the need to protect soil health.
Chouhan also highlighted the importance of the Krishi Nivesh Portal. This portal is expected to transform the agricultural landscape by centralising investment opportunities and information. According to the minister, this portal is a comprehensive platform designed to boost agribusinesses, attract investments and improve farmers’ income. He emphasised that the portal will cater to many stakeholders, including farmers, entrepreneurs, and industries. The minister said that the portal will provide easy access to information regarding various Central and state government schemes.
The Union Agriculture Minister also presented AIF Excellence Awards to the top-performing banks and states under various categories in recognition and appreciation of their efforts. Talking about the public sector banks, State Bank of India, Canara Bank, Bank of Baroda, Indian Bank and Punjab National Bank received awards. On the other hand, the HDFC Bank received the award as the best-performing private sector bank.
